COMMONS

Rushing into US trade negotiations would be "a catastrophic error"

04 June 2019

The chair of the International Trade Committee, Angus Brendan MacNeil MP, has issued the following comment in the wake of reports regarding a possible trade deal between the UK and United States.

“It would be a catastrophic error for the Government to rush into negotiations with the US without a comprehensive trade strategy.

“As my Committee’s inquiry into UK-US trade relations found, the issues involved in a potential UK-US deal are hugely complex, even leaving aside the concerns about agricultural standards. On top of this, the economic benefits of a US deal are presently unproven – and the Treasury’s own figures suggest it could bring about gains to GDP of as little as 0.2% in the long-term.

“The Government must ask itself one simple question: is such a negligible increase really worth putting so many areas of the UK economy on the table for?”

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